Off-Premise Capital Equipment Control
Vice President and Chief Financial Officer
Associate Vice President and University Controller
Office of Financial Management Services
Equipment removed from university premises for a period of thirty-one (31) days or more must have appropriate approvals signified by completion of an Equipment Loan/Return Document in the Kuali Financial System. The Equipment Loan/Return Document requires the approval of the fiscal officer and the borrower. Equipment may be loaned for a period of two years or less, and the loan document must be completed within thirty (30) days of the loan.
Responsibilites of the organization for loaned equipment are:
The responsibilities of the borrower are:
Equipment Loan/Return Request Documents must be renewed every two years, until the equipment has been returned to the campus premises.
Capital Assets: Must have an acquisition value of at least Five Thousand Dollars ($5,000) and a useful life expectancy of one year or greater.
Off-Premise: Refers to equipment which is in the control of a faculty or staff person, and the equipment resides at a location which is not directly associated with the university.